Medical Connectors Market by Product (Flat Silicone, Hybrid, Embedded, Radio Frequency, Push-Pull), Application (Patient Monitoring, Electrosurgery, Endoscopy, Diagnostic Imaging, Respiratory, Dental Device) & by End User - Global Forecast to 2021
The medical connectors market is projected to reach USD 2.69 billion by 2021 from USD 1.63 billion in 2016, at a CAGR of 10.5%. The major factors contributing to the growth of the global market include the increasing incidence and prevalence of chronic disorders, rapid growth in the aging population, which in turn leads to the increasing demand for medical devices and high healthcare expenditure. However, the growing demand for wireless devices and stringent regulatory standards for medical connectors are the major restraints for the market.
Based on application, the market is segmented into patient monitoring devices, electrosurgical instruments, cardiology devices, diagnostic imaging devices, endoscopy devices, respiratory devices, analyzers and processing instruments, dental instruments, neurology devices, enteral devices, and other applications. In 2016, the patient monitoring devices segment accounted for the largest share of the global market. The large share of this application segment is attributed to increasing incidence of chronic diseases and increasing adoption of patient monitoring devices.
On the basis of end user, the market is segmented into hospitals & clinics, diagnostic laboratories & imaging centers, ambulatory surgical centers, and other end users. The hospitals & clinics end user segment accounted for the largest share of the market during the forecast period owing to the growing incidence of chronic disorders and increasing demand for electrosurgical therapy.
Geographically, North America dominates the market. Growth in the North American segment is primarily driven by the rapid growth in the aging population, availability of reimbursement for several surgeries, and increasing incidence of major disorders. In addition, the high growth potential in the Asian region provides opportunities for players in the market.
The major players in the market are Amphenol Corporation (U.S.), Delphi Automotive LLP. (U.K.), Esterline Corporation (U.S.), ITT Corporation (U.S.), Smiths Interconnect (U.K.), TE Connectivity Ltd. (Switzerland), Fisher Connectors (Switzerland), Lemo S.A. (Switzerland), Molex (U.S.), and Samtec (U.S.).
Apart from comprehensive geographic & devices analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by players to maintain and increase their shares in the market.
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This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms, garner greater market shares. Companies purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the medical connectors market. The report analyses the medical connectors market by products, application, end users, and region.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the medical connectors market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the medical connectors market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for medical connectors across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the medical connectors market